Google Just Started Paying SpaceX $920 Million a Month. Here's What That's Worth per Share.
Key Points
Google is renting compute from SpaceX for $920 million per month.
The contract is 33 months, from October 2026 through June 2029, for a total value of about $30 billion.
It's worth about $2.27 in sales per share over the entire term.
- 10 stocks we like better than Space Exploration Technologies ›
This month marks the first payment of a major compute-rental contract for Space Exploration Technologies (NASDAQ: SPCX). Alphabet's Google agreed to pay the space company $920 million a month for access to about 110,000 Nvidia GPUs in a deal that runs from October 2026 through June 2029.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
SpaceX has about 13.2 billion shares outstanding, so some quick math shows how much this compute deal is worth per share.
Image source: Getty Images.
At the contract's monthly rate, Google will pay SpaceX about $11 billion a year and about $30 billion over the full 33-month term. That comes out to approximately $0.07 in sales per share per month, $0.83 in sales per share per year, and $2.27 in sales per share over the entire term.
SpaceX has a market cap of $2.2 trillion as of Oct. 12, so $11 billion in annual sales is a small amount by comparison. It's more significant when compared with SpaceX's revenue. The space company reported revenue of $20.7 billion over the trailing 12 months. This contract alone could increase yearly revenue by over 50%, and SpaceX has secured an even more lucrative deal with Anthropic for up to $84.5 billion through May 2029.
The catch is that SpaceX's deals with Google and Anthropic include 90-day mutual cancellation clauses, giving each side the option to walk away with 90 days' notice after an initial period. Investors shouldn't look at SpaceX's compute-rental contracts as guaranteed long-term income. Still, these agreements are promising signs that the company's AI segment will become a profitable part of its business and help justify the premium valuation on SpaceX stock.
Should you buy stock in Space Exploration Technologies right now?
Before you buy stock in Space Exploration Technologies, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Space Exploration Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $379,986!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,404,152!*
Now, it’s worth noting Stock Advisor’s total average return is 948% — a market-crushing outperformance compared to 215% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of October 15, 2026.
Lyle Daly has positions in Alphabet and Nvidia. The Motley Fool has positions in and recommends Alphabet and Nvidia. The Motley Fool has a disclosure policy.
Recommended Articles
